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Seborga luigino
Principality of Seborga |years= *1667–1671 (coins issued)NumisMaster *1994–1996 (coins issued)NumisMaster |pegged= United States dollar |subunit= centesimo |symbol= see here |coins= 5, 10, 15 centesimi, ½, 1, 2, 7½ luigini |mint= Seborga MintYouTube – Prince of Seborga on the 'Luigino' }} The Seborga luigino (code: SPL; symbol: see here) is the local currency of the Principality of Seborga , a located near the border of France and Italy, just above the . Its first coins were struck from 1667 to 1671, but recently a new issue entered production from 1994 to 1996. The luigino circulates alongside the euro in the self-proclaimed nation. Even though it is recognized by the regional bank, it has no value outside of Seborga. Introduction The city of Seborga is located near the France–Italy border in the of Italy. The municipality became in coexistence with the Principality of Seborga in 1963 by (later Prince Giorgio I), who insisted that the city had been sovereign since 954, and a principality as of 1079. This independent principality was eventually claimed by the Republic of Genoa, and sold to the Kingdom of Piedmont-Sardinia on January 20, 1729. In 1815, the overlooked Seborga in its redistribution of European territories following the , and it was unmentioned in the for the Kingdom of Italy in 1861. In 1181, the Republic of Genoa extended to take possession of the , and took control of Seborga in the process. The Genoese continued to claim the city as its own until the 18th century. During this time, the self-proclaimed sovereign state likely used Genoese coinage until 1666, when Seborga issued its own coinage. During the reign of the Piedmont-Sardinia, the kingdom's currencies were likely circulated in the city until the Italian unification in 1861, when the Italian lira was introduced. This currency continued to be issued in Italy until 2002, with the introduction of the euro. However, the Principality of Seborga reestablished its currency in 1994, and it currently circulates alongside the euro within the micronation. History The Seborga Mint was founded on December 24, 1666 by Prince/Abbot Edward of Seborga.The Mint of Seborga It issued the principality's first coins, referred to as luigini, from 1667 to 1671. These coins each had a value equal to of a French Louis. Seborga's mint was reportedly closed in 1946 after the conclusion of , but was reopened again in 1995 by Prince Giorgio I, and coin issuance recommenced in the principality. The currency currently circulates alongside the euro within Seborga. Value The value of the luigino is pegged to the United States dollar at 1 SPL = US$6.00, which would make it the world's highest-valued currency unit if it were internationally considered an official currency. However, due to the rarity and metal content of the coins, they may hold a higher value to collectors. Coins The first coin of Seborga, denominated at 1 luigino, was issued in 1667. New issues of the same denomination were later minted in 1668 and 1669. A number of pattern 1 luigino coins were struck in 1994, but no Seborgan coins were issued until 1995. During this year, cupronickel 5 and 15 centesimo, bimetallic ½ luigino, bronze 1 luigino, and silver 7½ luigino coins were introduced. The following year, brass 10 centesimo, cupronickel 15 centesimo, bronze 1 luigino, bimetallic 2 luigino, and silver 10 centesimo, 1 luigino, and 2 luigino coins were issued. No Seborgan coins have been struck since. Exchange rates References Category:Circulating currencies Category:Currencies of Italy Category:Currencies with an ISO 4217 code Category:Local currencies Category:Micronational currencies Category:Seborga luigino